Today, @RepCurbelo and @RepBrianFitz introduced the Market Choice Act (MCA) to address the dangerous economic and environmental effects of greenhouse gas emissions. curbelo.house.gov/news/documents…
This legislation would eliminate the federal excise tax on gasoline and diesel fuel (the “gas tax”), in favor of a tax on GHG emissions (a #carbontax) levied on fossil fuels and certain industrial facilities and products. See this article by @TimPuko wsj.com/articles/flori…
The goals of the Market Choice Act are to 1) to fund infrastructure by taxing GHG pollution; 2) spur significant reductions in carbon emissions; 3) and to offer a market alternative to the expansion of federal carbon regulations. niskanencenter.org/blog/legislati…
The tax would start at $24 per ton of CO2-equivalent emissions and increase at a real rate of 2% per year, covering about 85% of U.S. carbon emissions.
This could reduce emissions by 30% against 2005 baseline levels, outperforming regulatory schemes forwarded by the Obama Administration. niskanencenter.org/blog/president…
It would also raise nearly $1 trillion in the first 10 years. The majority of this money would go toward Highway Trust Fund, with the remainder going toward energy research and development and measures to mitigate the impacts of the tax. 
And for consumers, the burden of the #carbontax at the pump will be partially offset by the elimination of the #gastax.
For too long, important conversations about #climatechange have been fraught with partisan bickering that places ideology over evidence. It’s time for both parties to come together to discuss viable solutions. niskanencenter.org/blog/report-th…
Here at the Niskanen Center, we hope that the Market Choice Act prompts an ongoing, bi-partisan discussion about how to solve the complex challenges of climate change from an economically responsible standpoint. (cc: @ColumbiaUEnergy @JasonBordoff @noahqk @JosephMajkut)
To learn more about the economic and environmental implications of the Market Choice Act, see our full analysis here: niskanencenter.org/blog/legislati…
